Monumental funded Â£2m from UK scheme

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MMO and middleware studio Monumental Games is one of the first studios to land investment from the UK’s Capital for Enterprise Fund, after securing £2 million from the nationwide initiative.

The Capital for Enterprise Fund is a government initiative launched early in 2009 to support SMEs as Britain tip-toes out of the recession. It will give ambitious companies the financial support required to bridge the funding gap caused by the credit crisis.

Monumental announced it had secured the £2 million investment at the end of last year. According to the studio’s CEO and co-founder, Rik Alexander, the funds will be used to develop technologies, strengthen its workforce and allow room to innovate in the MMO space.

“This investment is a major milestone in the evolution of Monumental Games, and a vindication of our decision to focus on this market space,” said Alexander.